Court of Chancery of Delaware February 20, 1950 (Sussex Trust Co. v. Pierce)

Seitz, Vice Chancellor:

This is an action by an executor seeking to have the estate declared the real owner of stock held in the name of another person.

The defendant, Cape Henlopen Surf Club (hereinafter called the “corporate defendant” or the “corporation”) was incorporated in Delaware in 1989. It leased certain land from the town of Lewes and placed a building thereon.